If an economy is represented by a point inside its production possibilities curve:
举一反三
- Production efficiency occurs when production ( ). A: is at a point beyond the production possibilities frontie B: is on the production possibilities frontier or inside it C: is at any attainable point D: is on the production possibilities frontie
- On a production possibilities frontier, production is efficient if the production point is
- The best no-trade point for a country on an increasing cost production possibilities curve is where: ( ) A: the curve touches the vertical axis. B: the curve touches the horizontal axis. C: the origin. D: the curve touches the highest indifference curve.
- A rise in the price of imports or a fall in the price of exports will A: improve the terms of trade B: worsen the terms of trade C: Expand the production possibilities curve D: Contract the production possibilities curve
- A nation maximizes satisfaction by reaching the highest possible indifference curve， and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve.（ ）